Bitcoin and XRP are surging toward their strongest weekly closes since 2024, powered by a historic short squeeze and a wave of supportive policy signals from Washington. On-chain data now adds another layer, hinting this rally could mark more than a temporary bounce.
Bitcoin surged toward $80,000 on Friday, extending a three-day rally that has liquidated more than $4 billion in bearish bets and pushed the cryptocurrency to a three-month high. Data from CryptoSlate shows Bitcoin climbed as high as $78,449, gaining more than 10% over the past 24 hours before easing to $77,873 as of press time.
August 21, 2026, 10:43 amBTC has gained 24% since Monday and reached the level implied by its inverse head-and-shoulders break, with shorts still taking a contrarian position.
August 21, 2026, 10:15 am
Bitcoin surpassed $79,000, boosting market cap past $1.55 trillion and pushing the broader crypto market to $2.65 trillion amid growing fears over $40 trillion in U.S. national debt. Short Sellers Squeezed as Liquidations Top $1B Bitcoin breached $79,000 Friday morning, pushing its dollar gains since Aug. 17 past $15,000.
Bitcoin Infinity Day lands on August 21.
Vaneck’s head of digital assets research, Matthew Sigel, says his year-ahead bitcoin target and his 2029 cycle-peak call haven’t moved. Bitcoin is currently surging and has cleanly broken past the all-important $75,000 psychological threshold.
The rally in hard assets isn’t necessarily about what the Treasury is doing, but what its move signals to the market.
Bitcoin gains 20% in two days as Strategy sees its BTC treasury climb out of the red.
Strategy's decision to issue shares instead of selling Bitcoin strengthens its financial position, potentially boosting market confidence and stability.
Strategy’s common stock rose 10% in Friday pre-market trading to $120, the highest level in two months.
The Treasury's actions may lead to inflationary pressures, prompting investors to seek refuge in assets like gold and bitcoin as hedges.
Spot Bitcoin ETFs drew $606 million on August 20, the biggest daily inflow since May 1.
$76,690.00 +6.60%
$1.54T Market Cap
$67.35B Total Volume (4.37%)
$126,080 All Time High -39.17%
until new daily candle
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